The launch comes shortly after Mastercard has granted approval for the Kerv ring, as an M/Chip contactless payment device. M/Chip, is Mastercard proprietary technology that meets EMV standards for interoperable, reliable and safe payments across the world.

Founder of Kerv Wearables, Philip Campbell, said, “Our aim was to develop a desirable wearable item, that does not obviously look like a piece of technology. We believe that the Kerv ring makes people’s lives easier – whether that is commuting to work on London underground, buying a coffee, or paying for a round of drinks.”

The ring is waterproof, scratchproof, doesn’t need charging or pairing with a smartphone to work. The Kerv ring is linked to a Mastercard prepaid account, issued by PSI-PAY Ltd., and comes with a companion card for higher value transactions, online or for cash withdrawals.

Dave Meadon, senior vice president, EMV and Digital Devices, Mastercard, said, “Mastercard is continually looking for new ways to make transactions more secure and more convenient. The Kerv ring is a demonstration of how Mastercard’s secure M/Chip technology can power contactless payments in innovative consumer devices.”

Users can view their spending activity in real-time, and for added security can turn the ring on or off, preventing unauthorised transactions from being made with their Kerv ring.

The Kerv contactless payment ring is available to order on the kerv.com website, for £99.99

The Kerv account is governed by FCA regulations for the issuance of e-money

Tap-in on tubes, trains and buses in the Transport for London network (and approx 10 other transport networks around the world)

Never needs charging and does not need to be paired with a smartphone to operate

Waterproof and scratchproof

Designed for men and women, Kerv is available in two styles and 12 sizes

Retail price is £99.99 from kerv.com

Kerv is issued by PSI-Pay Ltd pursuant to a license by Mastercard International Incorporated. PSI-Pay Ltd is authorised by the Financial Conduct Authority of the United Kingdom under the Electronic Money Regulations 2011 (register reference 900011) for the issuing of electronic money.

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Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Kerv is issued by PSI-Pay Ltd pursuant to a license by Mastercard International Incorporated. PSI-Pay Ltd is authorised by the Financial Conduct Authority of the United Kingdom under the Electronic Money Regulations 2011 (register reference 900011) for the issuing of electronic money.